Centrica names Chris Weston as British Gas boss

Centrica is set to appoint Chris Weston as the new head of British Gas,
replacing Phil Bentley who stood down after a bust-up over strategy.

Chris Weston, the current head of Centrica's US retail gas business, Direct Energy, will replace Phil Bentley, who will step down as managing director after six years at the helm of British Gas.Photo: PRESS ASSOCIATION

Mr Weston, a former Royal Artillery officer who now runs Centrica’s US retail gas business Direct Energy, will take charge of the UK energy business as it grapples with the challenge of driving profit growth following political criticism and growing regulatory scrutiny.

From 2005 to 2009, Mr Weston was managing director of British Gas Services, which markets a range of boiler repair and domestic insurance services to the utility’s 16m-strong UK customer base and beyond.

He joined Centrica 12 years ago following the acquisition of telecoms provider One Tel, where he was a senior executive.

In 2009, he took over at the group’s Direct Energy business – described as a “mini-Centrica” by some analysts – with responsibility for its customer base of 6m in North America.

He will now move to the UK energy business as it plans to drive further expansion in the North American market.

Although Mr Bentley has been very successful at improving British Gas’ customer service demands, it is thought Mr Laidlaw wants British Gas to focus on new ways to promote growth in the face of creeping regulation.

Mr Bentley, 53, joined Centrica as finance director 13 years ago. In 2007, he was transferred over to British Gas as managing director. The retail division provides power and electricity to 12m homes around the country and employs 31,000 people.

Last year he was paid £681,000 in salary. His shares and options are worth £6.7m and he has a £210,000-a-year pension pot.

Despite public fury over rising gas prices and household energy bills, Centrica is unhappy with the level of margin squeeze on its post-tax retail margins. The company currently has a 5pc margin on post-tax gas income from households and has been subject to a lot of regulatory creep, including a series of interventions from Ofgem.

The last time Centrica unveiled a new strategy review was in 2010, when the company said it wanted to focus on growing its upstream business, like oil and gas production, in order to create a hedge for lower gas prices.